NPS New Rule: Now you can log in to NPS through Aadhaar. This feature will start from April 1, 2024.
NPS New Rule: A new rule regarding the National Pension System has been issued by the Pension Fund Regulatory and Development Authority (PFRDA), the government organization that operates the NPS. Now two factor authentication has been introduced in the CRA system.
In the circular issued by PFRDA, it was said that this decision has been taken to protect the interests of all subscribers and parties in the CRA system. Now logging into CRA system can be done only through Aadhaar based authentication.
When will this security feature start?
In the circular issued by PFRDA, it was told that the new login process can start from April 1, 2024. Now you can log in only through Aadhaar authentication with your existing user ID and login password.
Why was the existing NPS login process changed?
PFADA informed that nodal offices including their affiliated autonomous bodies under the Central and State Governments currently use password-based login to access the Central Recordkeeping Agency (CRA) for NPS transactions. Now with the use of Aadhaar authentication, the entire logging process will become stronger and more secure.
What is NPS?
The full name of NPS is National Pension System. This is a retirement plan in which government and private sector employees can invest. The special thing about NPS is that investments are made in it for a long period and after 60 years you get the option of pension with lump sum payment. Earlier in 2004, this scheme was started only for government employees, but later it was opened for private employees also in 2009.
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